Avior Wealth Management LLC Purchases 1,361 Shares of Energy Transfer LP (NYSE:ET)

Avior Wealth Management LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,226 shares of the pipeline company’s stock after buying an additional 1,361 shares during the quarter. Avior Wealth Management LLC’s holdings in Energy Transfer were worth $417,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rise Advisors LLC lifted its holdings in shares of Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after buying an additional 927 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Energy Transfer in the first quarter worth $25,000. IMA Wealth Inc. lifted its holdings in shares of Energy Transfer by 100.0% in the second quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock worth $30,000 after buying an additional 1,200 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in shares of Energy Transfer in the third quarter worth $34,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in Energy Transfer during the third quarter valued at $35,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ET. Mizuho reaffirmed a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday. UBS Group decreased their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Citigroup upped their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Trading Up 1.9 %

Shares of ET opened at $15.53 on Friday. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.04. The company has a market cap of $52.31 billion, a P/E ratio of 14.24 and a beta of 1.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The company’s fifty day simple moving average is $15.16 and its 200-day simple moving average is $14.23.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were paid a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 8.12%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio is currently 115.60%.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.